Hanung Toys and Textiles has rallied 5% at Rs 151, extending its Wednesday’s 14% rally, on the back of huge volumes.

The trading volumes on the counter jumped almost four-fold, with around 2.78 million shares changing hands till 1158 hours against an average 793,000 shares traded daily in the past two weeks. The stock opened at Rs 147 and hit a high of Rs 155 on the NSE so far.

The company, engaged in gift articles, toys and cards, had proposed to raise funds through a global depository receipts (GDR) issue in May 2011 for its capex plans of Rs 720 crore. However, the company had deferred the same due to the volatility in Indian securities market and the share prices of the company being lower than the floor price determined as per the regulatory guidelines.

“The board of directors/issue committee would review the situation in future and decide on the date on which to reopen the GDR issue as well as other terms and conditions associated therewith," the company said in a filing to the stock exchanges.